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Indiana Reports on the Value of Libraries

Yesterday I spotted an interesting article in our Sunday paper regarding a report commissioned by the Indiana State Library and prepared by the Indiana Business Research Center.Â The report stated that,

The market value of Indiana public libraries’ circulation and other services came to $630 million in 2005… Those libraries had total operating expenses of $265.1 million, so that means Hoosiers are getting $2.38 in benefits for every dollar they invest in libraries.

The article went on to say that some libraries have an even greater return on investment.

Beyond these benefits it cited that, Â

In addition to the market value of services provided, public library payrolls and their purchases of goods and services have an economic impact of $479 million, according to the Indiana Business Research Center report.

While the article is writtenÂ with a business perspective, it does point out that while “only 19 percent of staff reported that had a special competency in business resources. About 28 percent said they had a special competency in genealogy.”

It was really nice to see that the value in our libraries is being recognized! The entire article is online at The Times website.